Technically, it looks difficult to find support for FEB(G) GOLD.All these money managers that are long as of last week will soon be singing a different story as the Fed exerts pressure on the yield curve with another boost of the Fed Funds Rate.

The Bears have taken over the camp ground and it is all about picking the right way to make money on the downside.This is not easy, otherwise everybody would do it.

Fridays COT report at the CFTC was showing CTAs and Hedge Funds with a count of 196,188 Longs and only 15,178 Shorts. This is a commercial dream come true.Big downside which could be accelerated by an extension of our debt ceiling, and a tax bill to print more money, and a coming December rate hike. God save our kids and their debt.

Good luck traders.May the derivative gods be good to you, now and for always.Sell your gold, this market is run by the FED.

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